Interlocking directorship across Italian listed companies: evidence from a natural experiment

The financial crisis of 2008 and the introduction of the Interlocking Ban in 2011 (for financial firms) deeply influenced the Italian corporate governance system. The aim of the present study is to investigate to what extent personal ties among the directors of Italian listed companies have changed after these two events. We describe the evolution and dimension of the phenomenon of interlocking directorship (ID) for all the Italian listed companies over the period 1998–2013 using different methodologies. Social network analysis discloses the existence of clusters of companies whose links remain dense after the crisis, while connections to the peripheral units of the system decrease, reducing the overall connectedness. Results reveal that, over the period, there is a reduction in the cumulation ratio which still remains high and mainly due to a high number of directorships for multiple directors. This reduction is more severe after 2008 when both the financial crisis and the Interlocking Ban occur. In disentangling the two effects we observe ID reduction during and after the crisis, also for non-financial firms, confirming the general tendency of a decline in national board interlocking networks.     

Measuring Organised Crime Presence at the Municipal Level

Social Indicators Research - While indicators assessing the quality of life often comprise measures of crime or fear of crime, these components usually refer to property or violent crimes. More...     

Perceived Corruption and Individuals’ Life Satisfaction: The Mediating Role of Institutional Trust

Social Indicators Research - Corruption degrades the quality of institutions, increases economic inequality and limits growth. Recent studies indicate that corruption is also associated with lower...     

The dynamic stochastic topic block model for dynamic networks with textual edges

Statistics and Computing - The present paper develops a probabilistic model to cluster the nodes of a dynamic graph, accounting for the content of textual edges as well as their frequency. Vertices...     

Childhood family structure and schooling outcomes: evidence for Germany

We analyze the impact on schooling outcomes of growing up in a non-intact family in Germany. We find that this experience is associated with worse outcomes according to estimates from models that do not control for possible correlations between common unobserved determinants of family structure and educational performance. Evidence of adverse effects emerges also when endogeneity is accounted for. In such cases, however, the point estimates are typically smaller, and their confidence intervals are large enough to include zero, particularly for individuals who grew up in Western Germany.     

Evaluation of the health risks to garment workers in the city of Xambrê-PR, Brazil

This study evaluated the risks for cardiovascular disease and the life habits of garment industry workers in northwestern Paraná state, Brazil. The following parameters were assessed: body composition, cardiorespiratory fitness, eating habits and physical activities by garment industry workers. Cardiovascular risk was observed in some of the studied subjects, in the form of high BMI and reduced maximal oxygen uptake. The development of a workplace quality-of-life program is suggested, aiming to stimulate the development of physical activities to improve the cardiovascular conditioning of workers.     

Effects of pushing height on trunk posture and trunk muscle activity when a cart suddenly starts or stops moving

Unexpected sudden (un)loading of the trunk may induce inadequate responses of trunk muscles and uncontrolled trunk motion. These unexpected perturbations may occur in pushing tasks, when the cart suddenly starts moving (unloading) or is blocked by an obstacle (loading). In pushing, handle height affects the user's working posture, which may influence trunk muscle activity and trunk movement in response to the perturbation. Eleven healthy male subjects pushed a 200 kg cart with handles at shoulder and hip height in a start condition (sudden release of brakes) and a stop condition (bumping into an obstacle). Before the perturbation, the baseline of the trunk inclination, internal moment and trunk extensor muscle activity were significantly higher when pushing at hip height than at shoulder height. After the perturbation, the changes in trunk inclination and internal moment were significantly larger when pushing at shoulder height than at hip height in both conditions. The opposite directions of changes in trunk inclination and internal moment suggest that the unexpected perturbations caused uncontrolled trunk motion. Pushing at shoulder height may impose a high risk of low-back injury due to the low trunk stiffness and large involuntary trunk motion occurring after carts suddenly move or stop.     

‘Non-interference’ implies equality

We propose a new principle of ‘non-interference’ applied to social welfare orderings. The principle, together with two other standard requirements, implies a strong egalitarian conclusion: the ordering must lexicographically maximize the welfare of the worst off. The first version of this paper was written when Mariotti was visiting Bocconi University. Their generous hospitality and financial support through a Research Fellowship is gratefully acknowledged. A previous version of this paper written by Mariotti alone was circulated with the title ‘Liberalism implies equality’. We thank Ken Binmore, Paola Manzini, Juan Moreno Ternero and two referees for helpful comments. The responsibility for any error is our own.     

Artistic separation versus artistic mixing in European multicultural cities

This introductory article discusses the diversification of diversity in Europe. It then looks at the tension between ethnic separation and ethnic mixing in urban Europe in general terms. The next section elaborates on a similar tension in the field of popular arts. Finally, the article presents the main insights of the contributions to the special issue.